A Tale of Two Exits

They’re so excited about getting started—and then so overwhelmed with running the business—that they don’t askWhat do I want to get out of it … when I’m ready to get out of it?

The results of not asking are Dickensian.

Just look at the two clients I spoke to in the same week:

Client #1 has owned his construction company for 10 years. After just two months, he got offered $2M to buy his business. 80% of that will be paid in cash at closing. He’ll stay on for just 6 months to help integrate the clients and the team into the new ownership.

Client #2 has owned his urban design business for 8 years. After trying to unload his company for the last 12 months, he’s selling the customer list to his main employee for $50K. He’ll be paid in monthly installments over the next year.

When you begin with the end in mind, you have a vision for your future. Like “eulogy exercises” in personal development seminars. Looking backwards, what do you want to be able to say about your business? Here are some ideas:

You earned a fantastic income from it to support your family while you were alive

You grew it to sell to someone else so you could retire early … or start the next business